August 25, 2021
BY MOHAMED M. SESAY
During his visit to inspect the facilities of the All Petroleum Products Companies (APPC) at Kissy Freetown, the Honorable Vice President Dr. Mohamed Juldeh Jalloh has yesterday the 24th of August, informed that Sierra Leone has the cheapest pump price of fuel in the entire sub-region.
He referenced Guinea as the sister country which have increased prize on petroleum products twice but in Sierra Leone the price of fuel has remained the same.
“In our country, government will try to take extra measures, proactive measures to ensure that we reduce on government tax just to keep the petroleum prizes very stable. If you look at the sub-region, people will understand that Sierra Leone is one of the countries with cheap prizes on petroleum products”, he said.
Vice President Jalloh furthered that whenever new petroleum companies come into the country that will enable the government to have more storage facilities for petroleum products which will cushion the effect of shortage of petroleum products in the country.
He stressed that the petroleum sector is a very important sector in the country which creates jobs, and contributes to revenue generation for the country.
VP Jalloh reaffirmed that government is making huge sacrifices by going to the extent of cutting down taxes on petroleum products just to stabilize prizes.
VP Jalloh also acknowledged that the petroleum sector is one of the most essential commodities which every country takes very seriously.
He therefore, sent a strong message to the petroleum sector that government takes them very serious as partners in nation building, that government cares about their works, and that government wants the petroleum companies to take advantage of the support from government
He continued that he essentially went to inspect the Kissy Oil Terminal with a full view if engaging the oil companies that are operating within the kissy terminal.
He furthered that his objective of visiting the Kissy Oil Terminal was in two fold of which one, was to send a strong message to all the oil marketing companies to take advantage of the support government is rendering the sector, and also work in harmony in order to affirm the stability of supply and prizes of petroleum products.
The Minister of Trade and Industry Dr. Hinga Sandi Said there are better ways of dealing with problem within the two parties in the petroleum sector. He added that since the two companies are competitors, he said shyness and insecurity could sometimes be inevitable in the sector. He reiterated that the visit of the vice president, will give the understanding to both parties that the only interest government had is to make sure that the sector is regularized, has a free flow of petroleum products coming in to the country and has absolute control over the prizes of the petroleum products. Dr. Sandi furthered that government is also keen in allowing a free market place wherein everyone is given the opportunity to compete in the petroleum sector.
He disclosed that the petroleum market is becoming bigger and bigger as compared to the amount of fuel the country was using previously which is not even half to the amount is used currently. He informed that new companies are coming into the country and news factories and industries are coming into the country operating in the petroleum sector. He continued that if the country has another petroleum facility with the ability to hold almost the same amount of the existing storage the country had already, he said that is a very good news for those in the petroleum sector, even good news for the consumers, and good news for the government of Sierra Leone.
He also informed that government will be bringing in more players in the petroleum sector and therefore urged the petroleum regulation agency to be opened up and work with other players coming into the country to invest into the sector.
The Chairman of the of the Petroleum Regulation Agency Dr. Brima Baluwa Koroma said the vice president is really focus in the area of the petroleum sector which is the more reason the Vice President went to inspect the petroleum facility. He added that the Vice President’s visit to the facilities is to ensure that sanity prevails in the petroleum sector. Furthered that government has plan to develop a road map between the two players in the petroleum sector adding that, they have committed to work together, and to ensure that they prevent crisis in the petroleum sector.